Golden Visa Demand in Greece Remains Strong Despite Higher Investment Thresholds

Based on this year’s data, demand for residency permits through investment (Golden Visa) in Greece remains consistently high, particularly in markets where property upgrading and access to the Schengen Area continue to act as major growth drivers.

Key Countries Driving Golden Visa Demand in Greece

According to an analysis by Nikos Roussanoglou published on Capital.gr, interest in the Greek Golden Visa program has surged among investors from several countries, including the United Kingdom, Israel, Turkey, the United States, and Iran, while China’s participation shows a notable slowdown compared to previous years.

Turkey and Israel Lead Growth

• Turkish investors now represent 14.7% of total Golden Visa permits, marking a 152.8% year-over-year increase, the strongest growth rate among all nationalities.

• Israel follows closely, with an 83.7% annual increase, rising from 296 permits last year to 544 this year, reflecting heightened interest in Greek residency and real estate investment.

Strong Interest from the United Kingdom

• The United Kingdom accounts for 48.8% of all applications, with 737 submissions.

• According to research by the British investment-immigration firm Astons, an increasing number of high-net-worth individuals are seeking alternatives to the UK due to rising taxes on property and wealth, making Greece an attractive destination.

Rising Demand from the U.S. and Iran

• U.S. investors recorded a 47.5% increase, with 536 Golden Visas issued, compared to 363 last year.

• Iranian demand grew by 43.3%, reaching 721 permits, up from 503 in the previous year.

China Losing Momentum in the Greek Golden Visa Market

Although China historically dominated the Greek Golden Visa program, its growth is now slowing:

• Annual growth stands at 29%, significantly lower than other markets.

• China’s share of new permanent investor permits dropped to 47.9%, down from 53.5% a year earlier.

Impact of Higher Investment Thresholds

Following the abolition of the lower investment thresholds in May, new Golden Visa applications declined sharply:

• In September, only 392 applications were submitted, nearly 50% fewer than September last year.

• From January to September, total applications reached 5,747, representing a 6% decrease year-over-year.

Record Number of Golden Visas Issued

Despite fewer new applications, the number of Golden Visas issued has surged:

• 6,282 new permits were granted this year, reflecting a 103% increase compared to last year.

This trend indicates that Greece’s Golden Visa program remains highly attractive, while administrative authorities are processing pending applications more efficiently, reinforcing investor confidence in the program.

Source: Capital.gr